Chicago Bridge & Iron Co. (NYSE:CBI) shares were down 2.4% on Wednesday . The company traded as low as $26.15 and last traded at $26.15, with a volume of 1,386,465 shares. The stock had previously closed at $26.78.

A number of research analysts recently weighed in on CBI shares. Robert W. Baird lowered Chicago Bridge & Iron Co. from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $45.00 to $40.00 in a report on Friday, July 22nd. Johnson Rice lowered Chicago Bridge & Iron Co. from a “buy” rating to a “hold” rating in a report on Wednesday. MKM Partners reissued a “buy” rating and issued a $45.00 target price on shares of Chicago Bridge & Iron Co. in a report on Wednesday, June 29th. Vetr lowered Chicago Bridge & Iron Co. from a “strong-buy” rating to a “hold” rating and set a $40.30 target price on the stock. in a report on Wednesday, July 20th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $35.00 target price on shares of Chicago Bridge & Iron Co. in a report on Monday, August 1st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $43.52.

The company has a 50 day moving average of $31.02 and a 200 day moving average of $35.31. The stock’s market capitalization is $2.73 billion.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/chicago-bridge-iron-co-cbi-shares-down-2-4.html

Chicago Bridge & Iron Co. (NYSE:CBI) last released its earnings results on Wednesday, July 27th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.04. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.82 billion. Chicago Bridge & Iron Co. had a positive return on equity of 24.66% and a negative net margin of 4.81%. Chicago Bridge & Iron Co.’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the company posted $1.55 EPS. Equities research analysts anticipate that Chicago Bridge & Iron Co. will post $4.75 EPS for the current fiscal year.

The company also recently announced a dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 26th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, September 22nd. Chicago Bridge & Iron Co.’s dividend payout ratio (DPR) is presently -5.12%.

In other news, insider Patrick K. Mullen sold 18,567 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $28.99, for a total transaction of $538,257.33. Following the completion of the transaction, the insider now directly owns 86,655 shares in the company, valued at approximately $2,512,128.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Patrick K. Mullen sold 11,985 shares of the stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $36.65, for a total transaction of $439,250.25. Following the transaction, the executive vice president now owns 105,222 shares of the company’s stock, valued at $3,856,386.30. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Cedar Wealth Management LLC increased its position in Chicago Bridge & Iron Co. by 66.0% in the second quarter. Cedar Wealth Management LLC now owns 3,570 shares of the company’s stock worth $124,000 after buying an additional 1,420 shares in the last quarter. Pinkerton Retirement Specialists LLC acquired a new position in Chicago Bridge & Iron Co. during the second quarter worth approximately $143,000. Societe Generale acquired a new position in Chicago Bridge & Iron Co. during the second quarter worth approximately $156,000. SG Americas Securities LLC increased its position in Chicago Bridge & Iron Co. by 38.6% in the second quarter. SG Americas Securities LLC now owns 4,505 shares of the company’s stock worth $156,000 after buying an additional 1,255 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Chicago Bridge & Iron Co. during the second quarter worth approximately $201,000. Institutional investors own 65.94% of the company’s stock.

Chicago Bridge & Iron Co. Company Profile

Chicago Bridge & Iron Company N.V. (CB&I) provides a range of services to customers in the energy infrastructure market across the world. The Company provides various services, such as conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program management and environmental services.

5 Day Chart for NYSE:CBI

Receive News & Ratings for Chicago Bridge & Iron Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chicago Bridge & Iron Co. and related companies with MarketBeat.com's FREE daily email newsletter.